November, 2017

• 15 November

  With arctic drilling under attack, Norway oil chiefs fight back

  

  Bloomberg The man overseeing western Europe’s biggest crude spigot is fighting back against the oil doubters. Norway’s push into the Arctic, necessary to prolong the nation’s more than four decades of petroleum production, is running into a multi-pronged attack with claims that projects will be unprofitable and an unprecedented lawsuit targeting the government. “There are many forces who are using ...

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• 15 November

  Trump’s trade barbs push Asian nations closer to China’s orbit

  

  Bloomberg For years, smaller nations in Asia have looked to the US to provide a counterweight to an increasingly powerful China. Under President Donald Trump, they are learning to fend for themselves. Trump declared his 12-day swing through Asia a success before heading home, saying that “all Countries dealing with us on TRADE know that the rules have changed.” On ...

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• 15 November

  India’s Fortis offers $711mn for RHT assets

  Bloomberg Fortis Healthcare Ltd., India’s second-largest private hospital chain by market value, offered to buy all assets of its Singapore-listed trust RHT Health Trust for 46.5 billion rupees ($711 million). Shares of the health trust climbed the most on record. Fortis will acquire all of RHT’s Indian subsidiaries, a 49 percent interest in Fortis Hospotel Ltd., and the entire asset ...

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• 15 November

  FDA warns Indian pharma Lupin on quality violations

  

  Bloomberg Lupin Ltd., which makes generic antibiotics, antidepressants and heart medications for sale in the US, was warned by the Food and Drug Administration for repeatedly ignoring tests showing that pills made at two of its facilities didn’t meet quality standards. In 2015 and 2016, the FDA found 134 instances when drugs or active ingredients failed initial testing but the ...

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• 15 November

  Hong Kong property market continues to soar

  Bloomberg Sino Land Co. was part of a consortium that swooped in to buy residential land in Hong Kong from the government for HK$17.3 billion ($2.2 billion), described by local media as a record for that type of property. Shimao Property Holdings Ltd., Wheelock Properties Ltd., K Wah International Holdings Ltd. and S E A Holdings Ltd. were the other ...

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• 15 November

  AT&T engages Washington firepower with its megadeal

  

  Bloomberg AT&T Inc.’s $85.4 billion bid for entertainment titan Time Warner Inc. is where few imagined it would end up—hurtling towards a make-or-break moment in Washington with a pro-business Republican administration that shows signs it may reject the deal. Dallas-based AT&T is fighting an increasingly public battle with Justice Department antitrust officials, who have questioned whether the combined company would ...

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• 15 November

  Swedish $370bn home-loan market gets ‘mortgage fund’

  

  Bloomberg As investors wonder whether Sweden’s housing market is headed for a correction, the country’s first mortgage fund is about to enter the $370 billion Swedish home-loan industry. Stabelo plans to pool capital from Swedish institutional investors in exchange for fixed-income securities. That money will then be lent to home buyers. The fund starts offering its products this week and ...

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• 15 November

  Prosecutors raid Volkswagen over labour chief’s pay

  

  Bloomberg German prosecutors raided Volkswagen AG’s headquarters in an investigation of whether the carmaker’s leadership agreed to excessive payments to its top labour representative. The search is part of a probe into remuneration of works council chief Bernd Osterloh, a Volkswagen spokesman said, declining to provide further details. Sascha Rueegg, a spokesman for prosecutors in Braunschweig, the legal administrative center ...

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• 15 November

  Nike knocked by unions ‘tax avoidance’ strategies

  

  Bloomberg Nike Inc., which was cited in the so-called Paradise Papers for funneling billions of dollars into offshore tax havens, is now facing a push by organised labour to stop the practice. The AFL-CIO, a federation of 56 unions that represent 12.5 million workers, said it sent a shareholder proposal to the company. The document asks the world’s largest sports ...

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• 15 November

  UK labour market shows signs of slowing as employment falls

  Bloomberg UK unemployment held at a 42-year low in the third quarter but there are signs that the labour market is slowing as the number of people in work fell for the first time in a year. The jobless rate averaged 4.3 percent between July and September, the Office for National Statistics said. But employment fell by 14,000, the first ...

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